What are the risks of giving a large acreage of land to a Real Estate Investment Trust?
A REIT will profit by leasing land to the highest bidder at the time that the land is worth the most. REITS dont concern themselves with aesthetics, history, culture or uniqueness. So, if we want to preserve the uniqueness, history, culture and aesthetics of downtown and El Segundo, we cannot, in principle, hand the land to a REIT that will lease it to the highest bidder.
